Rockspring announces first close of TransEuropean VI raising €217.5 million

12 October, 2015

Rockspring Property Investment Managers LLP announces the first close of Rockspring TransEuropean VI LP, having secured commitments totalling €217.5 million from five investors across the UK, France, Finland and the US. This represents over half of the €400 million targeted for the Fund. With further equity closings planned for the end of 2015, TEP VI is expected to be the largest in the TransEuropean series of funds.

By adopting a high income, capital intensive strategy, TEP VI will look to source value-add opportunities across the office, retail, industrial and residential sectors in both Continental Europe and the UK. The Fund has a maximum gearing of 55%, with a potential gross investment capability of close to €1 billion. The Fund benefits from an experienced management team, who have worked together for over 15 years, led by Robert Gilchrist, Rockspring’s CEO. Through leveraging the firm’s ‘operator-style’ approach, the Fund will benefit from both the on-the-ground expertise of the Company’s seven European offices, as well as its 30 year track record of deal origination and value creation.

TEP VI follows TEP V, which closed in 2012 with over €350 million of commitments from 12 investors, and has since delivered a 21.5% pa return. The TransEuropean series of funds were first launched in 1992 and have invested €1.7 billion in 14 European countries since inception, achieving a 13.1% pa IRR.

Paul Hampton, Rockspring Partner and Fund Director of the TransEuropean series said: “o raise over half of our target equity in the first close is a fantastic result and we are extremely grateful to our investors for their ongoing loyal support and confidence in our team. This first close is also testament to our fundraising capabilities and ability to source value in competitive markets. With over €200 million of transactions either already closed on or in due diligence, we are keen to conclude our fundraise so that we can focus on assembling the remainder of the portfolio.”



The Fund Reviews team advised investors in this fund.